Wow. I guess my conversation about stock market volatility was better timed than I thought. As far as I can tell, some of the greatest companies in the world are now trading at 5% to 10% discounts to fair value. Diageo at $101. Hershey at $84. Coca-Cola at $36. Exxon at $69. Johnson & Johnson at $90. General Electric flirting with $22. Pick any of the above, hit the reinvest button, hold for a very long time, and you’ll be happy with the results.
However, the stock that has especially caught my attention is Visa. Out of all the companies in the Dow Jones, it has the greatest earnings per share growth characteristics. I think it would be quite difficult to come up with more than five other companies that are worth more than $150 billion that are growing revenues at a rate north of 10%. The balance sheet is … Read the rest of this article!